On Monday, the Pakistani Rupee (PKR) appreciated by 8.56 paisa, or 0.03%, against the US dollar in the interbank market, closing at PKR 278.42 per USD, compared to the previous closing rate of PKR 278.5. Throughout the session, the PKR saw an intraday high (bid) of PKR 278.60 and a low (ask) of PKR 278.45.
OPEN MARKET RATES
In the open market, exchange companies quoted the dollar at PKR 279 for buying and PKR 280 for selling, indicating a slightly higher rate compared to the interbank market.
PKR’S PERFORMANCE AGAINST MAJOR CURRENCIES
In comparison to major currencies, the PKR exhibited mixed performance:
- Euro: The Pakistani Rupee depreciated by PKR 1.56 against the Euro, closing at PKR 311.24, down from PKR 309.68 in the previous session.
- British Pound: The PKR lost PKR 2, closing at PKR 367.36, compared to PKR 365.35 a day earlier.
- Swiss Franc: The currency saw a loss of PKR 1.68, closing at PKR 328.81, compared to the previous close of PKR 327.13.
- Japanese Yen: The PKR depreciated by 2.54 paisa, closing at PKR 1.9343 against PKR 1.9089 from the previous day.
- Chinese Yuan: The PKR weakened slightly, losing 8.03 paisa to close at PKR 39.1, compared to PKR 39.02 in the last session.
- Saudi Riyal: The PKR fell by 2.28 paisa, closing at PKR 74.2, down from PKR 74.22 the previous day.
- U.A.E Dirham: The PKR declined by 2.33 paisa, settling at PKR 75.83, compared to PKR 75.8 a day earlier.
PKR’S PERFORMANCE YEAR TO DATE
During the current financial year, the Pakistani Rupee has depreciated by 7.61 paisa, or 0.03%, against the US dollar. However, for the current calendar year, the PKR has appreciated by PKR 3.44, or 1.24%.
MONEY MARKET UPDATE
In the Money Market, the benchmark 6-Month Karachi Interbank Bid and Offer rates inched down by 1 basis point, closing at 17.61% and 17.86%, respectively.
